- CryptoCom confirms Terra Luna Classic (LUNC) delisting.
- Terra Luna Classic (LUNC) sees a 13% price plunge.
- According to emails received by investors, the exchange is set to delist the coin on Feb 15.
In a sudden turn of events, the Terra Luna Classic (LUNC) community is grappling with uncertainty following the confirmation of its delisting by Crypto.com. The news has sent shockwaves through the market, causing a 13% tumble in LUNC prices.
Investors received emails about the delisting on February 15, raising concerns about the legitimacy of the information and potential phishing scams. Amidst this turmoil, Crypto.com has acknowledged the validity of the news, leaving the community eagerly awaiting official announcements.
Terra Luna Classic community in turmoil
The delisting of the LUNC comes hours after Terraform Labs filed for Chapter 11 bankruptcy protection in the US and the ensuing LUNC price drop has fueled a dilemma among holders, torn between selling their holdings and awaiting official confirmation from Crypto.com.
However, concerns about phishing scams have also heightened as no official announcement was made on the exchange’s website or social media channels.
Despite inquiries from the Terra Luna Classic community, Crypto.com’s response to the delisting confirmation has left many questions unanswered. While acknowledging the news as valid, the exchange provided limited details, leaving investors in the dark about the extent of the impact and the jurisdictions affected. The absence of an official announcement on Crypto.com’s official channels has added to the fear, uncertainty, and doubt (FUD) surrounding LUNC and LUNA prices. Investors are now eagerly anticipating clear communication from the exchange’s executives.
Although Terraform Labs, associated with Terra Classic, filing for bankruptcy protection in Delaware is thought to add to the complexities, the company expresses its commitment to continue working on its goals while navigating legal hurdles.
Nonetheless, the broader selloff in the market further compounds challenges for Terra Luna Classic, raising questions about the project’s future amid a dynamic and challenging environment.